Activist fund Oasis Management, KADOKAWA's largest shareholder, has proposed the dismissal of President Takeshi Natsuno at the upcoming general meeting. Two major proxy advisory firms, ISS and Glass Lewis, have recommended a "yes" vote for the proposal, citing a decline in ROE since Natsuno's appointment.
Saba Capital, the activist hedge fund led by Boaz Weinstein, has secured control of Edinburgh Worldwide Investment Trust after shareholders voted Thursday to oust chair Jonathan Simpson-Dent and five other board members, installing three Saba-backed nominees. The victory gives Weinstein's firm control of the Baillie Gifford-run trust, whose largest holding is SpaceX at about 20% of the portfolio. SpaceX, with an imminent IPO, generated a staggering 947% return for EWIT since 2018. Saba plans to reposition the trust toward UK-listed investment trusts and target a single-digit discount to NAV through share buybacks.
